Guideline Value for SRI ANDAL NAGAR

Sri Andal Nagar guideline value

The current guideline value of Sri Andal Nagar, located in Athur B Block village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Andal Nagar has changed

The guideline value for Sri Andal Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then saw a decrease to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 500 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 233%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median value for this area is Rs 700 per sq.ft, making the guideline value of Sri Andal Nagar below that median.

• Sri Ajith Avenue: Rs 1,000 per sq.ft (2024)
• Sri Adhinath Residency Phase -II: Rs 1,000 per sq.ft (2024)
• Sri Adhinath Residency Phase -I: Rs 1,000 per sq.ft (2024)
• Sree Sai Krishnanagar: Rs 500 per sq.ft (2024)
• Sree Mallinathan Nagar: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Andal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Andal Nagar?

The Chengleput Joint II Sub Registrar Office covers Sri Andal Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a crucial factor in the registration process when buying or selling property in Athur B Block. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Andal Nagar?

The current guideline value of Sri Andal Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 500 per sq.ft. Notably, it increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What is the median guideline value in Athur B Block?

The median guideline value for the 79 streets in Athur B Block is Rs 700 per sq.ft, while Sri Andal Nagar's current value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the provided link.